The Irish government has this week announced plans to tap the country's " unparalleled" potential as a source of marine energy, pledging to invest over €26m in the sector over the next three years.
Irish energy minister Eamon Ryan said that the government would also introduce a feed in tariff for wave energy that would guarantee wave energy projects a tariff of €220 per megawatt hour for the electricity they produce.
The initiative will also see €2m invested this year in developing a wave energy test site connected to the national grid, €1m ploughed into a new National Ocean Energy research facility at University College Cork and €2m in grants offered to wave energy companies seeking to commercialise their products.
"We have unparalleled ocean resources in Ireland," said Ryan. "The aim behind this R&D funding is to enable Ireland to win the race of developing a full-scale, commercially viable ocean energy device for generating electricity. "
Industry body says more government support needed to maintain the UK's lead in marine energy development 27 Oct 2009
Energy giant predicts commercial rollout of wave energy technology from 2013 21 Oct 2009
Offshore wind, marine energy and biomass developers to receive financial boost this April Fool's day 30 Mar 2009New investment focused on offshore wind and wave and tidal projects as the South West is named the UK's first Low Carbon Zone 15 Jul 2009
Nine countries ink deal to develop new grid infrastructure to support offshore wind farms in the North and Irish Seas 07 Dec 2009
Heavily trailed proposals to ban sending recyclable material to landfill made public 18 Mar 2010Government announces extra £4.8m to support offshore wind R&D 18 Mar 2010
Secretary-General and climate envoy cross swords over the extent to which UN talks should be supported by separate negotiations between top polluters 18 Mar 2010
More news
As a journalist, I spend a fair amount of time defending the much maligned media industry to friends and family.... 18 Mar 2010
Andrew Williams casts his eye over some of the most popular green driving aids on the market 16 Mar 2010
From hydropower hot spots to record-breaking Texan winds, we run down the top stories from the past week 12 Mar 2010 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
